Innergex Renewable Energy (TSE:INE) price target increased to C$16.00 by analysts at National Bankshares

Innergex Renewable Energy (TSE:INE – Free Report) National Bankshares raised its price target from C$15.00 to C$16.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. Currently, the company has a recommendation for the company’s shares “Outperform”.

Other equity research analysts have also recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Innergex Renewable Energy from C$13.00 to C$11.00 and set a sector rating for the company in a research report on Monday, February 12th. Desjardins lowered their target price on Innergex Renewable Energy from C$14.00 to C$13.00 and issued a “buy” rating to the stock in a report on Tuesday, April 30th. TD Securities lowered their target price on Innergex Renewable Energy from C$12.00 to C$10.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. BMO Capital Markets lowered their target price on Innergex Renewable Energy from C$10.00 to C$9.00 and set an outperform rating on the stock in a research report on Thursday, February 22nd. Finally, Raymond James lowered their target price on Innergex Renewable Energy from C$15.00 to C$13.00 and set an Outperform rating for the company in a report on Thursday, February 22nd. Two investment analysts have rated the company with a hold rating, and five of them have given a buy rating to the company. According to MarketBeat, Innergex Renewable Energy currently has an average rating of “Moderate Buy” and a consensus price target of C$12.41.

Download our latest report on INE

Innerex renewable energy trading increased by 0.6%

INE shares rose C$0.05 during intraday trading on Tuesday, reaching C$9.05. The company’s stock traded hands were 693,217 shares, compared to average volume of 747,864. The company has a debt-to-equity ratio of 546.12, a current ratio of 0.74 and a quick ratio of 0.58. The stock’s 50-day moving average is C$8.29 and its two-hundred-day moving average is C$8.64. Innergex Renewable Energy has a 12 month low of C$7.05 and a 12 month high of C$14.40. The market value of the company’s shares is C$1.84 billion, the P/E ratio is -14.08, the P/E/G ratio is 20.61 and the beta is 0.34.

Innergex Renewable Energy ( TSE:INE – Get Free Report ) last released its quarterly data on Wednesday, May 8th. The company reported EPS of C ($0.11) for the quarter, which was in line with the consensus estimate of C ($0.11). Innergex Renewable Energy had a negative return on equity of 10.13% and a negative net margin of 11.78%. The company had revenue of C$242.54 million for the quarter, compared to the consensus estimate of C$240.80 million. Analysts forecast that Innergex Renewable Energy will report earnings per share of 0.0799919 for the current fiscal year.

Innerex Renewable Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15. Investors of record will receive a dividend of $0.09 per share on Friday, June 28. This represents a dividend of $0.36 on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, June 28. Innerex Renewable Energy’s Dividend Payout Ratio (DPR) is currently -56.25%.

Insider activity at Innerex Renewable Energy

In other news, Director Richard Gagnon purchased 3,125 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average cost of C$8.13 per share for a total transaction amount of C$25,408.75. In other Innergex Renewable Energy news, Director Daniel Lafrance purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average cost of CAD 8.35 per share, for a total transaction amount of CAD 41,750.00. Additionally, Director Richard Gagnon purchased 3,125 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of C$8.13 per share, for a total value of C$25,408.75. In the last quarter, insiders bought a total of 9,125 shares of company stock worth $75,135. 20.44% of the shares belong to corporate insiders.

Profile of Innerex, a renewable energy company

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Innergex Renewable Energy Inc operates as an independent renewable energy producer in Canada, the United States, France and Chile. It acquires, owns, develops and operates renewable energy generation and storage facilities, primarily in the hydroelectric, wind and solar energy sectors. The company operates in three segments: hydropower generation, wind power generation and solar power generation.

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